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ISCOVER
Staff Reporter
Mortgage brokers have sustained their growth momentum, achieving 3.76 per cent growth in volumes of new home loans.
According to research conducted by Comparator, Australia’s mortgage brokers wrote $25.62 billion in new residential mortgages during the September quarter.
As a result of this growth, the nation’s third party distribution channel managed to grow its mortgage market share for the quarter from 38.8 per cent to 41.3 per cent.
MFAA chief executive Phil Naylor said he is hopeful Australia’s mortgage brokers will break through the $100 billion mark in lending volumes for the 2012 calendar year.
“These figures show that the broker channel continues its growth of the overall market as more consumers accept their valuable position as trusted advisers,” Mr Naylor said.
“The consolidation of the industry also continues, with the four largest players accounting for more than 55 per cent of the volumes generated by the mortgage broker sector. It is clear that both consumers and lenders are recognising brokers’ increasingly important role and, as a result, their share will continue to gather momentum.”
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